The Ministry of Corporate Affairs ( MCA ) has amended the Companies (Meetings of Board and Its Powers) Rules 2014 by the Companies (Meetings of Board and Its Powers) Amendment Rules 2018.
As per the new amendment, now any director may participate through video conferencing or other audio-visual means if there is quorum in a meeting through physical presence of directors.
The amendment rules 2018 has substituted rule 13 which deals with Special Resolution. As per the new rule, a resolution passed at a general meeting in terms of sub-section (3) of section 186 to give any loan or guarantee or investment or providing any security or the acquisition under sub section (2) of section 186 shall specify the total amount up to which the Board of Directors are authorised to give such loan or guarantee, to provide such security or make such acquisition: Provided, that the company shall disclose to the members in the financial statement the full particulars in accordance with the provision of sub-section (4) of section 186.
The Central Government has amended the Companies (Meetings of Board and Its Powers) Rules 2014 by virtue of powers conferred by Section 173, 177, 178 & 186 read with Section 469 of the Companies Act, 2013. This is the seventh amendment made to the Rules. It was earlier amended on 13th July 2017.
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